- Former Intel Corp INTC President founded chipmaker Ampere Computing has confidentially filed for a U.S. initial public offering, Reuters reports.
- Founder Renee James, who serves as Ampere's CEO, also is a board member of Citigroup Inc C and Oracle Corp ORCL.
- Chip demand surged during the pandemic with the shift to remote work with GLOBALFOUNDRIES Inc GFS making its public debut.
- However, saturated investor demand and high volatility due to unfavorable macroeconomic conditions have led companies to postpone their IPOs or mergers with blank-check companies.
- Price Action: INTC shares closed lower by 0.96% at $46.57 on Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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